Investor News

API Technologies Announces Promotion of Claudio Mannarino to Chief Financial Officer

ORLANDO, Fla.– (Business Wire) – June 23, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, announced today that Claudio Mannarino, Senior Vice President, has been promoted to Senior Vice President and Chief Financial Officer, effective immediately, replacing Phil Rehkemper who resigned his position as CFO to accept another position. Mr. Rehkemper has served as CFO since April 2012. Mr. Rehkemper has agreed to remain with the Company until July 3, 2014 to assist in the CFO transition.

API Technologies Introduces New Line of Radiation-Hardened Power Conversion and Control Products: Space qualified designs feature smaller footprints at a lower cost

API Technologies - Radiation-Hardened Power Control
Orlando, Fla and Tampa, Fla - IEEE MTT-S International Microwave Symposium (IMS 2014), Booth #1515 – (Business Wire) – June 3, 2014 – API Technologies Corp. (NASDAQ:ATNY), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, introduces a new line of radiation-hardened (rad-hard) power conversion and control products designed for extreme environmental conditions and radiation exposure. The new line of rad-hard power products includes linear voltage regulators with adjustable or fixed output voltages (positive and negative voltage options), highly efficient point-of-load (switching) regulators, as well as solid state relays (SSR), which include radiation-hardened single pole, double throw (SPDT) SSR.

API Technologies Introduces 1,000 Watt Pulsed Power Amplifiers: Expanded line of GaN-based power amplifiers is targeted for TWT replacement

API Technologies - Pulsed Power Amplifiers
Orlando, Fla. – (Business Wire) - May 30, 2014 – API Technologies Corp. (NASDAQ:ATNY) (“API” or the “Company”), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, expands its line of Gallium Nitride (GaN) based power amplifiers to include designs that operate with output power levels up to 1,000 watts and frequencies to 18 GHz. These new pulsed, solid state power amplifiers are making their debut at the IEEE MTT-S International Microwave Symposium (IMS 2014) in Tampa, Florida.

These new power amplifiers can serve as a cost-effective replacement for traveling wave tubes (TWT), as the amplifiers’ long life and reduced size and weight offer better efficiencies than their TWT counterparts.

API Technologies Wins ECN IMPACT Awards: Recognized for Outstanding Achievement in Electronic Design and Groundbreaking Innovation

ORLANDO, Fla.– (Business Wire) – May 27, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, today announced that it has been recognized by Electronic Component News (ECN) with two 2014 ECN IMPACT Awards, presented during the Electronic Distribution Show (EDS) held earlier this month.

Judged by panel of industry experts, the awards recognize outstanding achievement in electronic design and groundbreaking innovation.

API Technologies Wins Strategic Order for Front End Microwave System for Next Generation Radar Warning Receiver

ORLANDO, Fla.– (Business Wire) – May 12, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, announced today the receipt of a strategic order for a multi-channel microwave front end system. This integrated microwave assembly (IMA) will be used in a next generation radar warning receiver targeted for use in major Department of Defense military aircraft platforms.

The front end system will include the basic building blocks of pre-selection filtering, amplification and high isolation. It is designed around API’s suspended substrate stripline (SSS) technology, which enables broad frequency coverage, low loss, and fast switching speed in a small footprint.

API Technologies Receives $1.6 Million Filter Solutions Order for Electronic Warfare Application

ORLANDO, Fla.– (Business Wire) – April 29, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, today announced the receipt of a new $1.6 million award to provide microwave filters and switched filters to a leading global defense company. These high reliability filters will be used in a major airborne electronic warfare (EW) platform. 

“Our customers in the electronic warfare arena demand products that address a broad set of technical requirements with unparalleled performance and reliability,” said Bel Lazar, president and chief executive officer, API Technologies. “As a supplier to both emerging and existing EW platforms, our products are helping save the lives of warfighters from our armed forces and allies around the world every day.”

API Technologies Reports Results for the Fiscal First Quarter Ended February 28, 2014

  • Revenue of $58.9 million
  • Capital structure simplification announced March 26

ORLANDO, Fla.– (Business Wire) – April 9, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, today announced results for the fiscal first quarter ended February 28, 2014.

“We delivered solid results this quarter, highlighted by Adjusted EBITDA expansion, cash generation, and overall margin improvements,” said Bel Lazar, President and Chief Executive Officer of API Technologies. “We continue to see sales funnel growth and strong customer adoption of our differentiated products across a diverse set of end markets. Furthermore, the simplification of our capital structure and reduction in API’s net liabilities related to the recent redemption of preferred stock delivers value to our shareholders.”

API Technologies Receives New $2.1 Million Order for Optical Network Solutions

ORLANDO, Fla.– (Business Wire) – April 2, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, today announced that it has received a new $2.1 million Power and Electromagnetic Integrated Solutions (EIS) order from a leading optical network company, host to the world’s largest wireless, broadband, and telecom providers.

The -48V DC Power Distribution Units are an integrated API Technologies solution, aimed at ensuring consistent clean power to the Optical Transport Network (OTN) and preventing system outages. The solution incorporates soft start, surge suppression, alarming, and EMI filtering capabilities to provide EMC protection and ensure consistent performance.

API Technologies Announces First Quarter Earnings Call

ORLANDO, Fla.– (Business Wire) – March 28, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, today announced that it would issue its earnings release for the fiscal first quarter ended February 28, 2014 after the market closes on April 9, 2014. A conference call to review the Company’s results will be held on April 10, 2014 at 10 a.m. Eastern Daylight Time. Bel Lazar, President and Chief Executive Officer, and Phil Rehkemper, Executive Vice President and Chief Financial Officer, will host the call.

API Technologies Announces Preferred Stock Redemption and Consolidation of Credit Facilities

ORLANDO, Fla.– (Business Wire) – March 26, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, today announced the redemption of all of its Series A Preferred Stock for $27.6 million. Additionally, the Company amended its credit agreement with Guggenheim Corporate Funding, LLC, as administrative agent, to provide for an additional $55.0 million term loan. The proceeds of the incremental term loan were primarily used to redeem the Series A Preferred Stock and to pay off the Company’s asset backed revolving loan facility.

Bel Lazar, President and Chief Executive Officer of API Technologies said: “This transaction results in an immediate reduction in API’s net liabilities and simplifies our capital structure without incurring any dilution to our equity holders.”

About API Technologies Corp.

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